Is your pay just not stretching far enough, no matter how carefully you try to budget?
You’re not imagining it.
The cost of living in Australia has reached levels that are genuinely affecting people’s mental health. We’re hearing it everywhere: rent hikes, grocery shocks, and interest rate fear. And somehow, you’re still expected to perform at work like none of it touches you.
But it does touch you. It touches everyone.
Recent national findings show that financial strain is now one of the top drivers of mental distress in Australian workplaces. It’s hitting especially hard among people aged 25 to 34, who are navigating rising rents, job insecurity, and mounting debt, often without adequate support. At the same time, many workers report that organisational support for their mental health is slipping.
These aren’t just numbers. These are real people, feeling more pressure and getting less help.
Let’s call it what it is: a crisis of quiet overwhelm.
You’re not lazy, disorganised, or failing at adulting. You’re operating in a system where everyday essentials, housing, food, and transport now come with a psychological price tag. This pressure builds slowly, and before you know it, you’re dreading bills, avoiding conversations, or working longer hours just to keep up.
What does that do to your brain?
Financial stress activates the same parts of your brain as physical danger. It shrinks your problem-solving capacity, spikes anxiety, and disrupts sleep. When you show up to work already stretched thin, it’s harder to stay focused, let alone thrive.
Financial stress can ripple through entire teams. Increased sick leave, presenteeism (being there but not really functioning), and rising tensions are all red flags. That’s why workplace wellbeing programs can’t ignore financial wellbeing. It’s not an optional extra. It’s foundational.
And here’s the good news: some workplaces are stepping up.
At The Team Approach, we believe psychosocial safety includes financial safety. That’s why our EAP counselling services offer access to trained financial coaches, with emotional support and practical, grounded help with what’s really keeping people up at night.
What’s the difference between financial counselling and general therapy?
A financial coach helps you assess your financial situation, make a plan, and explore hardship options if needed. But just as importantly, they understand the emotional toll financial stress takes. With us, you don’t have to choose between mental health support and financial advice. You get both in a safe and confidential space.
Whether you’re someone overwhelmed by the bills or a team leader noticing signs of strain across your staff, please know this: there are human, practical solutions. No judgment. No jargon. Real support.
If financial stress is affecting your mental health, don’t wait. Our EAP counselling includes access to qualified financial coaches who can help you or your team get clear, make a plan, and feel supported, both emotionally and practically.
Get in touch today to make financial wellbeing part of your workplace’s mental health culture.
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Listen to our Podcast
Check out our podcast! We are so excited to be talking all things ‘mentally healthy workplaces’ every Friday EST. Tune to meet and get to know Lou, who is a workplace wellbeing specialist, human behaviour lover & passionate EAP Counsellor. Lou is on a mission to build awareness, understanding, knowledge about mental health and wellness. And Lou wants to make working with a Counsellor as “accepted” as going to the gym is to get physically fit!
Working together for mentally healthy teams
Based on the beautiful Bellarine Peninsula in regional Victoria, we travel across greater Geelong and greater Melbourne for in-person training. And we offer online appointments via phone, Zoom and Skype for those who do not live locally. Contact for more information about employee assistance programs (EAP), leadership coaching or team training resources.
We at The Team Approach recognise the traditional owners of the country where we live and work. We recognise and celebrate the diversity of Indigenous people and their enduring cultures and connections to the land and waters of the Kulin Nation.
office
2/11 Clifton Springs Rd, Drysdale VIC 3222
